For crypto startups and unicorns, 2021 was an exceptionally good year. But for public companies tied to the crypto space, 2022 has been off to a bad start.
On Friday, the price of Bitcoin was hovering around $37,000, down around 45 percent from its November high. The S&P Cryptocurrency Broad Digital Market Index was down a similar amount. And the bulk of shares from a sample of public companies in the crypto space, most previously venture-backed, all were down over 50 percent from peaks hit in the past year.